Thomson Reuters Corp (TRI) Given a $45.00 Price Target by Royal Bank Of Canada Analysts

Royal Bank Of Canada set a $45.00 price target on Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) in a report released on Thursday. The brokerage currently has a hold rating on the business services provider’s stock.

TRI has been the topic of a number of other reports. BidaskClub raised Thomson Reuters Corp from a hold rating to a buy rating in a research note on Saturday, June 24th. Zacks Investment Research cut Thomson Reuters Corp from a hold rating to a sell rating in a research note on Tuesday, July 4th. Morgan Stanley reaffirmed an equal weight rating and issued a $49.00 price target (up from $48.00) on shares of Thomson Reuters Corp in a research note on Tuesday, July 18th. TD Securities decreased their price target on Thomson Reuters Corp from $65.00 to $61.00 and set a hold rating on the stock in a research note on Thursday, July 20th. Finally, Deutsche Bank AG raised Thomson Reuters Corp from a hold rating to a buy rating and lifted their price target for the stock from $44.00 to $50.00 in a research note on Monday, June 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Thomson Reuters Corp has a consensus rating of Hold and an average target price of $48.55.

Thomson Reuters Corp (TRI) opened at 46.06 on Thursday. The stock has a 50 day moving average price of $45.89 and a 200 day moving average price of $44.32. The firm has a market cap of $33.25 billion, a P/E ratio of 10.89 and a beta of 0.75. Thomson Reuters Corp has a 1-year low of $39.23 and a 1-year high of $47.04.

Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Friday, April 28th. The business services provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.10. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Thomson Reuters Corp had a return on equity of 13.37% and a net margin of 28.14%. Thomson Reuters Corp’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS. On average, analysts anticipate that Thomson Reuters Corp will post $2.36 EPS for the current year.

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Thomson Reuters Corp announced that its board has authorized a stock buyback plan on Wednesday, May 24th that permits the company to buyback 36,000,000 outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Several large investors have recently added to or reduced their stakes in the stock. Mawer Investment Management Ltd. raised its stake in Thomson Reuters Corp by 5.3% in the second quarter. Mawer Investment Management Ltd. now owns 2,596,545 shares of the business services provider’s stock valued at $120,259,000 after buying an additional 129,748 shares in the last quarter. Bank of Stockton raised its stake in Thomson Reuters Corp by 4.8% in the second quarter. Bank of Stockton now owns 8,110 shares of the business services provider’s stock valued at $374,000 after buying an additional 375 shares in the last quarter. CIBC Asset Management Inc raised its stake in Thomson Reuters Corp by 503.2% in the second quarter. CIBC Asset Management Inc now owns 833,132 shares of the business services provider’s stock valued at $38,529,000 after buying an additional 695,007 shares in the last quarter. Rothschild Asset Management Inc. raised its stake in Thomson Reuters Corp by 8.2% in the second quarter. Rothschild Asset Management Inc. now owns 46,102 shares of the business services provider’s stock valued at $2,768,000 after buying an additional 3,490 shares in the last quarter. Finally, Hartford Investment Management Co. purchased a new stake in Thomson Reuters Corp during the second quarter valued at $234,000. Institutional investors own 26.48% of the company’s stock.

Thomson Reuters Corp Company Profile

Thomson Reuters Corporation (Thomson Reuters) is a provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk segment is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.